Question
Jim, Michael, Kevin, and Meredith own and operate a route of gas station video poker machines as partners.A bill is enacted into law in North
Jim, Michael, Kevin, and Meredith own and operate a route of gas station video poker machines as partners.A bill is enacted into law in North Carolina making video poker illegal.All of the partnership's video poker machines are located in North Carolina.What happens to their partnership?
a. It dissolves by act of court.
b. It dissolves by act of partner(s).
c. Nothing.
d. It dissolves by operation of law.
Equity financing is typically cheaper than debt financing.
True
False
- The owners of an LLC are known as:
- a. Members.
- b. Shareholders.
- c. Partners.
- d. S-shareholders.
In addition to the articles of incorporation, the other governing document for a corporation is the:
a. Corporation agreement.
b. Operating agreement.
c. Board of directors.
d.Bylaws.
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